Network Security Firewalls Market

Network Security Firewalls Market Outlook (2022 to 2032)

[333 Pages Report] The global network security firewalls market is expected to be valued at USD 19677 million by 2032, up from USD 4882 million in 2022, expanding at a CAGR of 15% during the forecast period.

The demand for network security firewalls is surging owing to the increasing demand for advanced security services to alleviate the cyber-attack risks and expanding use of web applications, and these are the factors that are impelling the growth of this market.

Report Attribute	Details
Network Security Firewalls Market Value (2022)	USD 4882 Million
Network Security Firewalls Market Anticipated Value (2032)	USD 19677 Million
Network Security Firewalls Projected Growth Rate (2022 to 2032)	15%

A network security firewall is a security tool made for blocking unapproved access to data that exists on a private network. This firewall is employed either in software or hardware form or a mix of both. The network security firewall has the potential to separate a specific network and its data from an external network.

These are considered the initial level of network security and render advantages such as easy installation, high-speed data transmission, and flexibility. Integrating a firewall for a network is relatively economical as compared to securing every computer independently.

The risk of security is increased, increasing the momentum of interconnected devices and safeguarding the information from cyber-attacks and security breaches, the implementation of network security firewalls is rising in several enterprises, and this eventually is boosting the growth of the network security firewalls market.

Moreover, globally cloud technology has adopted network security firewalls, and this is too promoting the network security firewalls market during the forecast period. Presently, most large- and medium-scale organization has a presence on the internet and has an organizational network connected to it. Hence, to maintain network security amongst the internal network and external internet to safeguard the business against data breaches and any kind of fraud, network security firewalls are used.

Network security firewalls assist businesses in securing communication pathways from data misuse and unauthorized access, and owing to the network security firewall market is increasing at a faster pace.

Top Trends to Watch Out for Before Making your Investment Strategy

• Increased demand for network security and privacy is the crucial factor contributing to the lucrative growth of the network security firewalls market. Improved number of internet subscribers has resulted in the growth of huge data generated from every subscriber’s account. Using additional technologies such as Machine Learning (ML), Artificial Intelligence (AI), cloud computing, IoT, and big data, the core data produced from these specific subscribers can be used for research and business purpose further.
• A key growth factor propelling the network security firewalls market is the innovation in the security management services. Similarly, rising prevalence of issues related to mobile threat in the businesses is also backing the faster adoption of network security firewalls market.
• The market adoption of network security firewalls in growing swiftly to handle significant and extremely variable risk pertaining to an exposed security posture. Besides this, rising adoption of network security firewalls by several businesses to safeguard their information from cyber-attacks is promoting the growth of network security firewalls market.
• The rapid adoption of cloud technologies, fast use of web applications, and rising need for security services to alleviate cyberthreats are also boosting the growth of network security firewall market.
• Increasing cyberattacks during COVID-19 pandemic increased the market share for network security firewalls. As a result of COVID-19 pandemic, work-from-home of remote working gained considerable traction across the world, this resulted in rising cyber risks for businesses. Since hackers are constantly seeking for vulnerable areas in an infrastructure of an organization, numerous endpoints with comparatively less security have become novel objectives for these hackers. Therefore, increase in implementing robust network security, firewall solution has experienced increased penetration.
• Vulnerability to cyberattacks is the primary challenge in the network security firewalls market. Besides, another major market hindering factor is the device and system compatibility. Furthermore, amongst the telecom organizations there is a lack of preventive firewall maintenance, this too restricts the growth of the network security firewalls market on a global level.

North America vs Europe – Who Leads the Network Security Firewalls Market?

Parameters	North America
Hold on the Market (2022)	32.8%
Key Driver	Digital transformation in the telecom sector to underpin significant growth.
Key Opportunity	Influx of investment brought in the market by venture capitalists.

Parameters	Europe
Hold on the Market (2022)	20.70%
Key Driver	Government intervention to unlock wide growth channels.
Key Opportunity	GDPR norms pertaining to data privacy to unlock vast opportunity.

Presently, North American network security firewalls are anticipated to lead the global market during the forecast period. North American network security firewalls market is said to hold 32.8% of the total market share by the end of 2022. Several countries in North America are witnessing a constant growth in cyberattacks, and therefore, venture capital in security reinforcement has assisted North America in gaining the highest market share in the global network security firewalls market.

Other factors promoting the growth of the market in this region are swift development and privacy concerns in digital transformation in the telecommunication industry are, promoting the incorporation of firewalls. Moreover, the presence of multiple vendors, who provide Distributed Denial of Service (DDoS) protection and well-timed adoption of network security firewall software solutions, are anticipated to propel the North American network security firewalls market during the forecast period.

On the other hand, the European regions account for 20.70% of the global market share for the network security firewalls market. European vendors have surfaced as innovators in developing Next Generation Firewalls (NGFW) and UTM (Unified Threat Management). The European Union Agency for Cybersecurity (ENISA) is the dedicated agency to achieve a superior level of cybersecurity across Europe.

ENISA supports EU cyber policy and develops the reliability of ICT products, processes, and services with cybersecurity certification schemes. Businesses in this region go on to use network security solutions to determine and prevent threats at an early stage. This significantly contributes to the network security firewalls market in Europe region.

How are the Start-up Cashing in on the Low Entrance Barrier Opportunity to Scale?

The network security firewalls industry opens several opportunities for new entrants who focus on segments such as cybersecurity. In April 2022, unified cyber security platform WiJungle received its seed funding at a valuation of USD22 million from US-based global venture capital firm SOSV. WiJungle decided to be part of the SOSV program from the aspect of global quantifiability and for mentorship to work together on their plans to expand further.

Also, in June 2022, cybersecurity firm Perimeter 81 hit unicorn status with a USD100 million fundraising. This company offers secure network solutions for the hybrid workforce on its cloud-based platform. The company stated that its backers now value the Israeli cybersecurity company at USD1 billion.

4 Top Recent Developments in the Network Security Firewalls Market

Some of the key players in the network security firewalls market are SAP SE, Hewlett Packard Enterprise, Cellusys, Symsoft, Openmind Networks, Tata Communications, ANAM Technologies, AMD Telecom, Adaptive Mobile, and Infobip.

Sr. No.	1
Year	June 2022
Key Player	Hewlett Packard Enterprise
Strategy Employed	Hewlett Packard Enterprise stated that it is the primary major server provider to render a new line of cloud-native compute solutions by using processors from Ampere. Also, recently Forrester Researcher, Inc., named SAP a leader among Enterprise Data Fabric Solutions.

Sr. No.	2
Year	November 2020
Key Player	Amazon
Strategy Employed	Amazon introduced AWS Network Firewall service that enables easy deployment of key network operations. It is a cloud-based solution that sets up easily using few clicks. In addition to this, the network security firewall can be scaled as per the new requirements surfacing in the future.

Sr. No.	3
Year	April 2022
Key Player	Accenture
Strategy Employed	Accenture and Vodacom teamed up to work towards the improvement of cybersecurity 4to curb instances of cyberattacks and cyber threats, which arises on account of the lack of investment.

Sr. No.	4
Year	May 2022
Key Player	Capgemini
Strategy Employed	Capgemini announced that it has opened a new office in Spain with a special focus on Cyber Defence Centre, also known as (CDC) as a Cloud Service Center. The new space in Spain will complement the CDC offices present in the U.K., France, Poland, India, Paris, the Netherlands, and Australia.

Most of the players in the niche have an intensified focus on providing a better service in order to gain an edge over their fellow contenders. As a result, the priority has always been on improving the service quality. Cloud deployment of network security firewalls is a game-changing means for the established players to cater to requirements from geographies out of their physical coverage. Additionally, the focus is also on the expansion to new geographies to make the most out of the opportunities present, alongside having less competition to deal with.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 15% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Type, Solution, Services, Deployment, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa
Key Companies Profiled	SAP SE; Hewlett Packard Enterprise; Cellusys; Symsoft; Openmind Networks; Tata Communications; ANAM Technologies; AMD Telecom; Adaptive Mobile; Infobip
Customization	Available Upon Request

Key Segments of the Network Security Firewalls Market

By Type:

• Stateful Packet Inspection
• Next Generation Firewall
• Packet Filtering
• Unified Threat Management

By Solution:

• Signalling Firewall
• SMS Firewall

By Services:

• Professional Services
• Managed Services

By Deployment:

• On-premises
• Cloud
• Virtualization

By Region:

• North America
• Latin America
• Asia Pacific
• Europe
• MEA

Frequently Asked Questions

What is the Growth Outlook for the Network Security Firewalls Market?

The network security firewalls market is predicted to advance at a CAGR of 15% from 2022 to 2032.

Which Region Leads the Network Security Firewalls Market?

North America is anticipated to lead the network security firewalls market through 2032.

How much Growth Potential does the Network Security Firewalls Market hold?

The network security firewalls market is likely to hold a valuation of USD 19677 million by 2032.